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Mar 21, 2013
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he said the chancellor is sucking the confidence out of the economy. the financial markets seemed e prerelaxed with what we heard yesterday. >> i think the potential markets have factored in now for very many months. the economy here in the uk is flat. it's flat lined. there's no growth. our deficit has been expected to stay high now for many months. the chancellor confirmed yesterday what we've all known for a long time. the national debt is rising year on year. the borrowing is not coming down. britain was an experiment two years ago in rapid austerity. i think the markets here know what the country here in britain knows, it's failed. >> they did come out saying business applauded measures yesterday, which i'm sure he would also applaud. 32 pounds of national insurance. that's going to help job creation, cutting corporate tax rates again. infrastructure spending, he's done that, as well. there are very business friendly measures here and it's the private sector, after all, that's going to get the growth going in this country. >> look, the small busin
he said the chancellor is sucking the confidence out of the economy. the financial markets seemed e prerelaxed with what we heard yesterday. >> i think the potential markets have factored in now for very many months. the economy here in the uk is flat. it's flat lined. there's no growth. our deficit has been expected to stay high now for many months. the chancellor confirmed yesterday what we've all known for a long time. the national debt is rising year on year. the borrowing is not...
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Mar 20, 2013
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if there is a greater optimism about the economy? do you think that that's going to create anxiety, that the fed will start to scale back earlier than expected or is it a good thing when good news -- >> good news is not good news at the initial. there's too many people expecting that they will do nothing. you have to have it so the vast majority of people expect them to do something. >> it might create a sell-off in the market. >> they have to do it right. yeah, it could. >> could i add something. >> very quickly. >> at the end of the day the fed has to acknowledge the economy. it's good but not good enough. there's no way it's good enough for the fed to stop doing what it's doing. >> how good does the fed see the economy? let's find out right now. >> the federal reserve voting 11-1 to maintain its policy of purchasing $85 billion of mortgage-backed securities and treasuries monthly saying it will continue to make purchases until the labor market shows substantial improvement. that's pretty much exactly as written last time around. t
if there is a greater optimism about the economy? do you think that that's going to create anxiety, that the fed will start to scale back earlier than expected or is it a good thing when good news -- >> good news is not good news at the initial. there's too many people expecting that they will do nothing. you have to have it so the vast majority of people expect them to do something. >> it might create a sell-off in the market. >> they have to do it right. yeah, it could....
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Mar 19, 2013
03/13
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falling behind china in the global economy. that's your book right there. i told you the title is not one that you will forget. if you have little ears, cover them. how is it going right now? there are sensitive issues on the agenda. >> it's an extremely sensitive time and it's important that the first foreign dignitary that president jinping since last september when defense secretary panetta made a trip. >> that's not frequent enough for you? >> that relationship management is nowhere intense enough. by the way, it's important to note that the first foreign trip that president xi is making is to russia with president putin. we have to build a dialogue. this hacking thing has gotten serious for three reasons. one, the number of hacks have grown dramatically. >> and you trace it to china? >> yes. >> and number two, the severity of where they are going. they have literally tried to hack into pipeline companies, in our national grid. and third, to the point you make, there are very direct pointing to groups like the comet group in shanghai and the chinese pla
falling behind china in the global economy. that's your book right there. i told you the title is not one that you will forget. if you have little ears, cover them. how is it going right now? there are sensitive issues on the agenda. >> it's an extremely sensitive time and it's important that the first foreign dignitary that president jinping since last september when defense secretary panetta made a trip. >> that's not frequent enough for you? >> that relationship management...
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Mar 26, 2013
03/13
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i don't think the economy looas. when i loon look look under the hood of the data, when you take out the boeing anomaly, you had a decline. consumer confidence is atrocious. oracle, fedex, caterpillar. they have not been good. maybe they're stock specific, maybe they're company specific. as we get into earnings season, we will find out more. and europe is not fixed. it is a big, big problem. it is just quiet for a little bit. >> what are you doing? shorting the s&p? shorting individual names ? >> shorting the s&p. short housing here. xhp. you saw yesterday usg was down 10% because of checks talking about how the price increases aren't going to be able to come through. when you start to see stuff like that, the story starts to deteriorate. >> how much can you put in channel checks? housing has recovered. housing remains pretty strong. case-shiller was another metric. >> not only case-shiller but core logic showed 9.7% -- >> these stocks are trading at levels that are above the 2007, 2005 high when we were in the middl
i don't think the economy looas. when i loon look look under the hood of the data, when you take out the boeing anomaly, you had a decline. consumer confidence is atrocious. oracle, fedex, caterpillar. they have not been good. maybe they're stock specific, maybe they're company specific. as we get into earnings season, we will find out more. and europe is not fixed. it is a big, big problem. it is just quiet for a little bit. >> what are you doing? shorting the s&p? shorting...
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Mar 22, 2013
03/13
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we're in the obama economy. a college student doesn't need to study capitalism, moves into his parents house, lives there until he's 30. is on their health care plan. where do you find a professor to teach the joys of capitalism. >> there has to be somebody out there. >> they are there but they are a vanishing minority. >> capitalism is freedom. i appeal to your higher spirits. there must be an agreement with us some place. capitalism is about freedom. live, liberty and pursuit of happiness is done best through the free market capitalist system. >> i agree with you, larry. i don't know what stanford is doing. obviously they can do what they want because they are a private university and we have freedom of speech but i certainly would encourage the teaching of capitalism on campus. but i think you're all on a different planet. liberals are very supportive of capitalism. and this notion that somehow that the whole country has become anti-capitalist is not true. >> dave horowitz the congress man believes liberals a
we're in the obama economy. a college student doesn't need to study capitalism, moves into his parents house, lives there until he's 30. is on their health care plan. where do you find a professor to teach the joys of capitalism. >> there has to be somebody out there. >> they are there but they are a vanishing minority. >> capitalism is freedom. i appeal to your higher spirits. there must be an agreement with us some place. capitalism is about freedom. live, liberty and...
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Mar 19, 2013
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the big policy shift or abe-onomics is giving aus view of the japanese economy. we think that the current stance and the shift at the boj with the new governor taking place later this week is clearly the best opportunity japan has had in the last 15 years to get rid of deflation and i think in that sense we are staying with the market momentum which is very constructive on japan. that is our biggest overweight. >> regional equities. >> we'll leave it there. valentin, appreciate your time today. >> i had mentioned as well the u.s. stocks. here is a look at futures. we saw it in cypriot banks, cypriot stocks reopen not happening. they will be staying closed until at least thursday. largely looking down on the dow by 14 points. the nasdaq and the s&p pointing higher when it did emerge that cypress wouldn't be voting and not approving the terms of the bailout last night. we're still waiting for the final confirmation on the timing of that vote. not so much market nervousness here. the ftse cnbc global 300 is down by 0.1%. as we look at major european markets, the fts
the big policy shift or abe-onomics is giving aus view of the japanese economy. we think that the current stance and the shift at the boj with the new governor taking place later this week is clearly the best opportunity japan has had in the last 15 years to get rid of deflation and i think in that sense we are staying with the market momentum which is very constructive on japan. that is our biggest overweight. >> regional equities. >> we'll leave it there. valentin, appreciate your...
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Mar 18, 2013
03/13
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, consumption economy doing well on strong dollar and down oil. >> keith here. looking at financials. great call. i love the way you switched the call and got long on this market. you have one name you guys are focused on you think can lead the financials? >> bank of america because we're so bullish on housing. our call on housing is people aren't bullish enough. we go to the spring selling season we think 25% on existing homes. >> that's the music. we have to go because the european close is coming up. >>> coming up on halftime, sleeper threats to the rally. what else is lurking beneath the surface that could shake the bears out of hibernation. just 2:39 seconds away, we have it covered. keep it here. investor. yeah, i'm a serious investor but i'm a busy guy. it used to be easier but now there are more choices than ever. i want to know exactly what i am investing in. i want to know exactly how much i'm paying. i want to use the same stuff the big guys use. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackr
, consumption economy doing well on strong dollar and down oil. >> keith here. looking at financials. great call. i love the way you switched the call and got long on this market. you have one name you guys are focused on you think can lead the financials? >> bank of america because we're so bullish on housing. our call on housing is people aren't bullish enough. we go to the spring selling season we think 25% on existing homes. >> that's the music. we have to go because the...
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Mar 26, 2013
03/13
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you can't predict the economy's robust. right thou, the transports are continuing to, unfortunately, tell us that it is a slow growth/no growth economy unless you're either fracking, you're intermodal or e-commerce. >> do the transports still move on that? >> they do to a certain degree but, you know, the bottom line is that all transports have gotten much, much better. >> yeah, yeah. >> that takes a lot of it out of it. >> but if we bring up that chart again, is that fedex? when did this happen on the transports? because it did -- >> fedex. >> fedex to a certain degree, but you know, there was another big player that got shot across the bow that day and that was caterpillar the. >> that was who? >> caterpillar. >> that is not a transport, though. >> yeah. but it's a big industrial. it's a global industrial. they said 13% down sales, they said 25% down in the region. >> so, if we're using the transports as a gauge to the economy, is the fed wrong? are we not going to get the kind of growth that people are expecting at this
you can't predict the economy's robust. right thou, the transports are continuing to, unfortunately, tell us that it is a slow growth/no growth economy unless you're either fracking, you're intermodal or e-commerce. >> do the transports still move on that? >> they do to a certain degree but, you know, the bottom line is that all transports have gotten much, much better. >> yeah, yeah. >> that takes a lot of it out of it. >> but if we bring up that chart again, is...
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Mar 25, 2013
03/13
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is it going force the economy into recession? >> oh, deep. deep recession. there are predictions of a decline of more than 10%. it makes up 50% of this economy. it's going to be catastrophic, absolu absolutely. as we saw, the comments about a template are really throwing it in the works, but we seem to be coming back a little bit now. how are the markets realing this? >> it matters whether it is or isn't. i appreciate the attempts to finesse this. then when we got the clarification from his office, which is really him. is it his aide or him? the markets came up. and no models or templates are used. you can see how confused the markets are on this. you can see u.s. financial stocks. but more importantly we also came off the lows in european stocks. these are italian stocks to trade here. ewi is the symbol here. same thing coming right off of the lows. >> bob, thank you so much for that. let's bring in the president of mercadian asset management. let's just move away from cyprus for two seconds. we really need some good news at this point. more than momentum.
is it going force the economy into recession? >> oh, deep. deep recession. there are predictions of a decline of more than 10%. it makes up 50% of this economy. it's going to be catastrophic, absolu absolutely. as we saw, the comments about a template are really throwing it in the works, but we seem to be coming back a little bit now. how are the markets realing this? >> it matters whether it is or isn't. i appreciate the attempts to finesse this. then when we got the clarification...
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Mar 18, 2013
03/13
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was muted because the economy in the u.s. is pretty good and because it's still viewed as a safe haven. look what happened to the dollar. we can't continue to have question marks about confidence in an area of the world that's fragile and expect risk asset rallies including equity market to rally. >> european banks, they got hurt. they were down 3.5% to 4%. american banks were not. bank index was down less than 1%. i want to ask you though. given what dallara said, how do you assess the risk of this whole story? it seems small. a nothing little island. how do you see it? >> the last four years have been dedicated looking at risks globally. in my book i talk about the destruction lehman cauause overseas. now it's the reverse. the last three years we had elevator shaft drops in the u.s. stock market. at the end of the first quarter, beginning of the second quarter, 16%, 20% and 10%. each time there was credit spread contagion from europe. a sovereign problem that led to a bank problem. then that weakness led to u.s. credit spre
was muted because the economy in the u.s. is pretty good and because it's still viewed as a safe haven. look what happened to the dollar. we can't continue to have question marks about confidence in an area of the world that's fragile and expect risk asset rallies including equity market to rally. >> european banks, they got hurt. they were down 3.5% to 4%. american banks were not. bank index was down less than 1%. i want to ask you though. given what dallara said, how do you assess the...
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Mar 22, 2013
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. >> in terms of longer term, do you think this economy improves second half or do you think it slows down? >> i think, as a matter of fact, we're probably in the second quarter. you'll start seeing slow growth. but i think as this summer winds, you know, goes through, we'll start seeing some growth again. i do think that by the end of the year, we're going to be not a lot higher, but i think we'll be at all-time highs as the year goes on. probably the the end of the summer, the third quarter going into the fourth quarter. i'm positive. >> so bill, because the s&p capital iq estimates call for 0.6% growth the first quarter and then it goes up to 7%. so they're expecting profits to actually reaccelerate second half. >> lee munson, you're the only outside guest buying stocks here. what are you buying here? >> you know, i'm just focusing where i need to get some more exposure. i'm focusing first on emerging markets. they've lagged year-to-date. i think they can outperform by december 31st. i like the emerging markets to add more money today. i would also say, add more money to the s&p 50
. >> in terms of longer term, do you think this economy improves second half or do you think it slows down? >> i think, as a matter of fact, we're probably in the second quarter. you'll start seeing slow growth. but i think as this summer winds, you know, goes through, we'll start seeing some growth again. i do think that by the end of the year, we're going to be not a lot higher, but i think we'll be at all-time highs as the year goes on. probably the the end of the summer, the...
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Mar 19, 2013
03/13
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i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to watch and see how it folds out. but i've got a feeling it will have to turn itself around fairly quickly. >> michael, what do you think? have you changed any of your behavior in terms of allocating capital, as a result of what we've seen in the last 48 hours? >> no, not really, maria. i still think that cyprus is certainly something to watch. but i think it's just part of the negotiation process, exactly what's happening in greece. we have to watch and see if it accelerates and this idea sweeps around europe, but i doubt that's going to happen. i actually think that europe is starting to presen
i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to...
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Mar 20, 2013
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i am cautiously optimistic about the economy. it seems as if, despite the unemployment, despite the debt, that consumers are spending, and we are enjoying the same level of success that we've enjoyed the last 12 months in the u.s. business. having said that, i think one has to be incredibly concerned about the fragile nature of western europe, what's happening in cyprus, and other geopolitical issues that ultimately affect the united states. >> what about the minimum wage in this country, howard? is $7.25 enough. lots of pushes to take that up to $9, as president obama has talked about. the average starbucks barista, according to glassdoor website, makes $8.78 an hour. >> well, that's a little misleading, but i'll come back to that. you know, i think the minimum wage issue is a double-edged sword. and what i would not want to see is the minimum wage go up and as a result of that, employers starting to hire less people or cutting people's hours. and you have to be very careful of the unintended consequences. on balance, i am a sup
i am cautiously optimistic about the economy. it seems as if, despite the unemployment, despite the debt, that consumers are spending, and we are enjoying the same level of success that we've enjoyed the last 12 months in the u.s. business. having said that, i think one has to be incredibly concerned about the fragile nature of western europe, what's happening in cyprus, and other geopolitical issues that ultimately affect the united states. >> what about the minimum wage in this country,...
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Mar 26, 2013
03/13
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economy is pretty encouraging. and there is now a reasonable chance in the second half of the year that the fed might taper its purchases. which would mean instead of buying at $85 billion a month, maybe they buy at $50 billion a month. and to the extent that the economy is continuing to recover over the next year, i think there's a reasonable chance that during the first half of 2014, the fed might phase out its quantitative easing entirely. >> all right. nathan, stay there. more to come from you. meanwhile, let's bring you up to speed with where we are on global asset prices right now. european equities, pretty mixed at the moment. we were up around, what, 10% and a little bit more around this time yesterday. them we went down at the end of the session which brought toous markets down. losses between 0.4%, 0.3% on the dow. the ftse 100 absolutely flat. kingfisher coming up, they're impacting the numbers across europe. xetra dax up 13 points. we're down 0.3% for the ibex. the ftse mib is fairly flat at the moment.
economy is pretty encouraging. and there is now a reasonable chance in the second half of the year that the fed might taper its purchases. which would mean instead of buying at $85 billion a month, maybe they buy at $50 billion a month. and to the extent that the economy is continuing to recover over the next year, i think there's a reasonable chance that during the first half of 2014, the fed might phase out its quantitative easing entirely. >> all right. nathan, stay there. more to come...
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Mar 21, 2013
03/13
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you've got the good economy. tremendous housing numbers, miraculous retail sales, terrific oil and gas markets. you have the bad economy. weakening commodity prices. slow commercial real estate business. really bad world commerce outlook. real soft information technology sales. you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow gained 56 points. the s&p rising today, nasdaq jumping .78%. it's not sleight of hand or alchemy at work here, despite what critics say when they constantly slam the fed. >> boo! >> bernanke is not playing a game of move the stock market higher by simply continuing to keep the competition from bonds incredibly weak. he's got a real good reason for doing what he's doing, which is staying the course, keeping rates low. that reason? 1937. see, ben bernanke is a rigorous guy. he's a professor and a genuine scholar of american finan
you've got the good economy. tremendous housing numbers, miraculous retail sales, terrific oil and gas markets. you have the bad economy. weakening commodity prices. slow commercial real estate business. really bad world commerce outlook. real soft information technology sales. you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow...
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Mar 19, 2013
03/13
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has had their economy outperform other economies and i think it's a flight to safety relative to the u.s. markets on one hand and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take care, maria. >> what do you think? we're finishing positive here. this market doesn't want to go up? you think some of that's short covering? >> i think that's what we're see right now. finishing up the day. right now people will have to play it cautiously. we haven't seen the end of the cyprus thing. we have some negotiating going on from russia. the impact of that, as you mentioned, is a little minor relative to the size and scope of them, but it's whether or not that moves into italy, spain, as we've all been talking about. >> the contagion. thanks, terry, good to see you. looks like we will finish posit
has had their economy outperform other economies and i think it's a flight to safety relative to the u.s. markets on one hand and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take...
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Mar 25, 2013
03/13
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the economy will have to reinvent itself. the model centering on offshore accounts coming from russia, that is essentially broken. what is next for the economy? >> the offshore banking sector has been broken for the time being. the economy has always arrived on two sectors. tourism will continue, of course. it needs to revive some of the things it's doing. agriculture, light industry, but there isn't much land around to be doing that. so i think what the next business model will be that will employ all of these hundreds of accountants, lawyers, is again going to be business services. we still have a very good corporate cessation. we have very good agreement with other countries. but i'm afraid cyprus will have to forget banks in attracting big deposits on which they make good money. they have to think of other services that businesses are going to need and grow that economy. focus on shipping or trade, that kind of thing. >> economists coming out this morning and saying that this economy could be facing a decline in gdp of mo
the economy will have to reinvent itself. the model centering on offshore accounts coming from russia, that is essentially broken. what is next for the economy? >> the offshore banking sector has been broken for the time being. the economy has always arrived on two sectors. tourism will continue, of course. it needs to revive some of the things it's doing. agriculture, light industry, but there isn't much land around to be doing that. so i think what the next business model will be that...
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Mar 19, 2013
03/13
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and the economy has improved and it's not been great. i think it gets better now finally because housing is finally at the point where no one is questioning whether it's recovering. they are just questioning the speed of the recovery. but, again, until the fed actually pulls back from some of this extraordinary easing, many investors, especially on the equity side of the business, will question the sustainability the rally without the fed propping it up as much as some people think it is. >> if we took the fed out of the equation, joe, is there anything else out there that could potentially be negative enough, maybe even something we haven't encountered yet, that could make this market come unstuck? >> i think it would have to be something geopolitical, some on the oil front. certainly there is some fear in asia we relations to the japanese and chinese. no, i don't think so, mandy. we're still in a very solid, cyclical spot. >> i think the issue, guys, is when you ask that question, mandy, the correct question is, joe, if there was 3% gd
and the economy has improved and it's not been great. i think it gets better now finally because housing is finally at the point where no one is questioning whether it's recovering. they are just questioning the speed of the recovery. but, again, until the fed actually pulls back from some of this extraordinary easing, many investors, especially on the equity side of the business, will question the sustainability the rally without the fed propping it up as much as some people think it is....
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Mar 22, 2013
03/13
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that money will trickle down into the economy. you're going to kill it this way. >> it doesn't -- >> the truth is, let me push back on you as well, because is it really fair that if i go into a store i'm paying tax and if i do it online, i'm not? >> it's okay, because the local brick and mortar store is getting the tax benefit of that state. so why should a retailer go ahead and pay tax in a state that they're not in? and it's competition. certain states don't have sales tax and you see businesses going to those states. so let the free market reign out there and stop this madness. >> i'm not so sure it's madness. i think what you're trying to do is, i hate to use the cliche, but level the playing field here. and regardless of whether somebody's getting a service, these are the sorts of things that drive us as consumers, and if there's sales tax applied to the purchase that i make on the internet, that's not going to be the determinant with that suddenly sends me back one way or another. it will be a factor in where i decide to mak
that money will trickle down into the economy. you're going to kill it this way. >> it doesn't -- >> the truth is, let me push back on you as well, because is it really fair that if i go into a store i'm paying tax and if i do it online, i'm not? >> it's okay, because the local brick and mortar store is getting the tax benefit of that state. so why should a retailer go ahead and pay tax in a state that they're not in? and it's competition. certain states don't have sales tax...
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Mar 26, 2013
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economy. china is not a disaster. and if that's the case, i think equity valuation is still -- >> fair enough. >> now, we've got issues, though, right? there's tax hikes coming down the road. we've got obamacare. we had a gallon this show last week, owns a bakery, 50 employees. obamacare is going to wipe out two-thirds of her profit. we have that issue and very iffy operations in washington, d.c. where there could be more tax increases. we got through the sequester. that's good. but, you know, government never leaves us alone. so how much do you think that is going to be reflected inside the stock market, has stocks become too you've forric? >> the health care problem is a big one, an uncertainty. but i'm going argue that fiscal policy has actually improved quite a bit. the reason is because on january 2, they passed -- a tax bill that took away the uncertainty that had been hanging over the bush tax cuts. so they just made a lot of that permanent. and on the spending side, the sequester, as you've pointed out, actual
economy. china is not a disaster. and if that's the case, i think equity valuation is still -- >> fair enough. >> now, we've got issues, though, right? there's tax hikes coming down the road. we've got obamacare. we had a gallon this show last week, owns a bakery, 50 employees. obamacare is going to wipe out two-thirds of her profit. we have that issue and very iffy operations in washington, d.c. where there could be more tax increases. we got through the sequester. that's good....
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Mar 21, 2013
03/13
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what's your theme right now for the global economy? >> we still like stocks over bonds, but we're getting nervous. >> because of evaluations? >> we've come so far, so fast. double-digit gains last year. we're almost up 10% this year, even after today. but we think -- so you're kind of set up for a correction. the other thing is how optimistic everybody is. everybody's jumped on the bandwagon, so we felt a lot better in december, when not everybody was with it. but i think if there's any correction, it's not going to be as big as the last few years. the fiscal fights are over in washington. less fear of double dip in the u.s. less worries about europe breaking up, cyprus notwithstanding, or china hardlining. so we would see it as a buying opportunity. >> so what do you want to do, then? should you be taking profits on some of those names you've made money on already? how do you look at a market that you're still bullish on, but are getting a little nervous because of evaluations? >> i can't time this correction. >> right, you don't want
what's your theme right now for the global economy? >> we still like stocks over bonds, but we're getting nervous. >> because of evaluations? >> we've come so far, so fast. double-digit gains last year. we're almost up 10% this year, even after today. but we think -- so you're kind of set up for a correction. the other thing is how optimistic everybody is. everybody's jumped on the bandwagon, so we felt a lot better in december, when not everybody was with it. but i think if...
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Mar 20, 2013
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economy and the continued rise of e-commerce. they go up 8% very much in line with the s&p. >> so you must have bought more this morning. >> no. i mean, we have been a holder of it before christmas. still up over 8%. but look if you're a trader in the stock market, it will still be choppy. but long term, buy on the dip. >> what -- >> i was going to say i disagree, simon, because if you look at the guidance going forward, it trades at 17 times, but still having trouble meeting analyst estimates. what do you see that's going to change on the international revenue front? >> okay, i think it was over the last five years, only two estimates that missed, which is last quarter and this quarter. a big part of that is the miss on guidance. because we know they go through a massive restructuring. so i think the problem isn't identified yet. it's a choppy area. but to be fair to the country and the guidance, you have massive restructuring. you're taking people out of retirement. get massive cost cuts in the area. it will be difficult to giv
economy and the continued rise of e-commerce. they go up 8% very much in line with the s&p. >> so you must have bought more this morning. >> no. i mean, we have been a holder of it before christmas. still up over 8%. but look if you're a trader in the stock market, it will still be choppy. but long term, buy on the dip. >> what -- >> i was going to say i disagree, simon, because if you look at the guidance going forward, it trades at 17 times, but still having...
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Mar 25, 2013
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i just had a thought on the economy. if you take a look at unemployment rates, overall, 7.7% is not the worst thing in the world, but four years after the recovery, it should be lower. here's the ones that are killers, and i just want to get your thoughts on how to solve it. teenage employment in the usa, total teenage employment, 25%. overall black employment, 13.8%. and the worst one is teenage black employment, 43%. how in the world can we solve those problems, sir? >> it's going to take a concerted effort. first of all, we as a society need to recognize for every one of those young people we can keep from going on the path of despair, that's one more tax paying productive member of society who may discover a new energy source. so we need to think of ways to invest in them early. that's why we put in reading rooms and all these places to get them interested in reading because we have a 30% high school dropout rate in this country, and this is the information age, the age of technology. there is no way we can afford to
i just had a thought on the economy. if you take a look at unemployment rates, overall, 7.7% is not the worst thing in the world, but four years after the recovery, it should be lower. here's the ones that are killers, and i just want to get your thoughts on how to solve it. teenage employment in the usa, total teenage employment, 25%. overall black employment, 13.8%. and the worst one is teenage black employment, 43%. how in the world can we solve those problems, sir? >> it's going to...
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Mar 19, 2013
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causing the economy to get dinged, stock prices get slammed. people freaking about all this almost nonstop. freak out from cyprus. even as i think it's a silly reason, frankly, to be afraid. i told you i would trust ben bernanke again. he's committed to keeping rates low until it's 6.5%, pretty far away from where we are. i explained why you shouldn't let something that has to happen scare you out of high-quality stocks. and as they come down, i want to start getting more positive. i stated that the rates will go higher. it will be because things are getting better. so i think they are. but bernanke will try to keep the rates low as long as he can. you know what, though, while i think the financial stock charts are showing you rates are about to shoot up big, bond technicians may disagree. i would like to have all sides here. how about we take a more empirical look at the issue. if the fed really is about to stop its bond buying you know what's going to happen first, right, first and foremost. bond prices get hammered, particularly u.s. treasur
causing the economy to get dinged, stock prices get slammed. people freaking about all this almost nonstop. freak out from cyprus. even as i think it's a silly reason, frankly, to be afraid. i told you i would trust ben bernanke again. he's committed to keeping rates low until it's 6.5%, pretty far away from where we are. i explained why you shouldn't let something that has to happen scare you out of high-quality stocks. and as they come down, i want to start getting more positive. i stated...
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Mar 21, 2013
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it weakens those economies dramatically, weakens those countries. and it also weakens italy. >> you're saying potential contagion. finally, how does it get resolved? michelle is talking about a good bank/bad bank, nobody pays on deposits up to $100,000. the bailout is 10 billion euros from the european -- ecb. the bail-in is about $6 billion euros. so greece is looking for whatever they're looking for, $4 billion, $5 billion. or does europe bail that out even more? >> the biggest factor of all, dan and i were talking a couple minutes ago, the depositors above 100,000 will lose 40% to 50%. >> those are russians. they're going to be pissed off. >> the great systemic problem of giant bank failures is somewhat eliminated by what they're putting forward now. >> what do you think, dan? does this work? >> for our viewers i don't think it matters. the specifics are super interesting, we're going to go have a drink. what matters to people at home, what matters to the larger story is we decided that people's property in banks was not their own. >> in europe o
it weakens those economies dramatically, weakens those countries. and it also weakens italy. >> you're saying potential contagion. finally, how does it get resolved? michelle is talking about a good bank/bad bank, nobody pays on deposits up to $100,000. the bailout is 10 billion euros from the european -- ecb. the bail-in is about $6 billion euros. so greece is looking for whatever they're looking for, $4 billion, $5 billion. or does europe bail that out even more? >> the biggest...
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Mar 22, 2013
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banking system, to be as large relative to our economy as the cyprus banking system is to their economy, we would need 45 more jpmorgans in order to have that sizes of the economy. there's somewhere else comparable. the only place they could go was deposits. the big mistake was going after uninsurance -- i mean insured deposits. >> i think i told that from you. that is a good point, but i think i stole it from you. >> the serendipitous part of this for me is that all the countries that are in trouble are like in southern europe for you. you're not in finland, you're not if poland. all the trouble is -- >> beautiful places, joe. >> that's good. that's really good. and then when i said -- >> i do frequently say to myself thank goodness this isn't happening in azurbashaun. >> you have to get there. you're doing it for us and we really appreciate it. >> wait, wait. if this country does leave the euro, we want to see that. we want to document that. >> no, i was just saying because it's not affecting our markets doesn't mean that you shouldn't be there. and we're glad that you are there. >> r
banking system, to be as large relative to our economy as the cyprus banking system is to their economy, we would need 45 more jpmorgans in order to have that sizes of the economy. there's somewhere else comparable. the only place they could go was deposits. the big mistake was going after uninsurance -- i mean insured deposits. >> i think i told that from you. that is a good point, but i think i stole it from you. >> the serendipitous part of this for me is that all the countries...
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Mar 25, 2013
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the economy, even the sequester. the def is icit as well. these are the things that a multi-facetted investor thinks about. >> well, i'm very passionate about this stuff. i believe that our government should intertwine the education and economy in one package nape should almost be places that are merged together in how they respond to things. we no longer have the luxury of having our economy and what we do on that side separate from the educational side. let me be very specific. right now there's probably approximately 20% unemployment rate if you're not a high school graduate in this country. that's approximately 5% if you're a college graduate. one other very telling statistic, 75% of young americans between the ages of 17 and 24 cannot even enlist in the military because there are three requireme requirements, high school graduate, no criminal record and you have to be physically fit. that to me are the problems we need to focus on instead of being so focused on what the employment rate is today but how do we fix it in the long term? >>
the economy, even the sequester. the def is icit as well. these are the things that a multi-facetted investor thinks about. >> well, i'm very passionate about this stuff. i believe that our government should intertwine the education and economy in one package nape should almost be places that are merged together in how they respond to things. we no longer have the luxury of having our economy and what we do on that side separate from the educational side. let me be very specific. right...
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Mar 20, 2013
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economy. maybe a little bit of help from heaven. back over to you. >> the archbishop, this is something people should go look up this piece of the story. this is a fascinating piece. he's seen as this spiritual leader there who has been quite vocal. he's been out there talking saying let's get out of the euro and go back to the pound. do we have carolyn? can i briefly ask what it's like on the ground there? we understand that it may be several more days, not just thursday, before people can access their money in cyprus. >> absolutely. initially we know that banks were going to be closed up until tomorrow but at this point there's a lot of speculation that banks will be closed up until tuesday because monday is another bank holiday and at this point it's very, very uncertain that we'll get a viable plan b to get the bailout deal in place at this point it doesn't look like we'll get it by tomorrow. at this point we are expecting that banks are going to be closed for a little bit longer. of cours
economy. maybe a little bit of help from heaven. back over to you. >> the archbishop, this is something people should go look up this piece of the story. this is a fascinating piece. he's seen as this spiritual leader there who has been quite vocal. he's been out there talking saying let's get out of the euro and go back to the pound. do we have carolyn? can i briefly ask what it's like on the ground there? we understand that it may be several more days, not just thursday, before people...
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Mar 25, 2013
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but 50% of that economy is the banking industry. not only the banking industry but the jobs in the banking industry. i think people are going to be very concerned seeing those pictures. i think that, you know, the contagion is a possibility there. when people think that and they see those things on tv, it just unfortunately gives that feeling of fear and that it could happen anywhere. >> david kelly, we were getting to a point where people like, you know, global strategists were saying that maybe europe was starting to look attractive again. maybe it was time to get in there. is that -- are people going to rethink that with the way things were handled in nicosia? >> i think it does give people cause for pause. european stocks are still cheap. but they're not as cheap, i think, as u.s. stocks given the outlook here. i do think we're going to have some volatility here because of the problems and the bad policy in europe. but i think long term investors should still recognize that the elephant in the room or the rhino as rick would put
but 50% of that economy is the banking industry. not only the banking industry but the jobs in the banking industry. i think people are going to be very concerned seeing those pictures. i think that, you know, the contagion is a possibility there. when people think that and they see those things on tv, it just unfortunately gives that feeling of fear and that it could happen anywhere. >> david kelly, we were getting to a point where people like, you know, global strategists were saying...
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Mar 18, 2013
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> take a look at futures. the dow looks like it would open off about 103 points. fass dak would be off about 32 points and the s&p 500 off about 16 points. making headlines this morning, beyond cyprus, airbus is landing a record order of jets from indonesia's lion air. the deal is for $24 billion for 234 planes. also today, president obama is going to be nominating thomas perez to head the labor department. >> we wondered. >> an airplane guy. >> if we were going to pull back, we wondered where it was going to come from. but this doesn't change that we're still -- the dollar has been thrown away, the best house in the neighborhood, things here are still going better. so the question is, does europe still have the -- >>
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> take a look at futures. the dow looks like it would open off about 103 points. fass dak would be off about 32 points and the s&p 500 off...
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Mar 21, 2013
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they are such an integral part of what moves stuff in the economy. airlines are doing very well, but others are not. fedex, just an example of that. does that trouble you for the market here? >> yeah, it does trouble me. and going forward, we're going to watch those earnings closely, but you need a good transportation sector. we've had a nice little push, but now it seems to be getting a little weak. >> at the end of the day, $100 million for stocks for sale earlier. not a major number, but what are you expecting as we close out this day, down 86 points? does this get worse in the next minute? >> it could get a little worse. all the negative things considered, things aren't bad, down 80, 90 points at the end of the day. >> i'm going to go. we've got some numbers after the close. nike, we're waiting on, second hour of the "closing bell." see you tomorrow. alan, good to talk to you. >> you're skeptical on this rally? >> i am. >> is there a level that you need to get down to and you'll want to get back into this market again? >> you know, it is. it's fu
they are such an integral part of what moves stuff in the economy. airlines are doing very well, but others are not. fedex, just an example of that. does that trouble you for the market here? >> yeah, it does trouble me. and going forward, we're going to watch those earnings closely, but you need a good transportation sector. we've had a nice little push, but now it seems to be getting a little weak. >> at the end of the day, $100 million for stocks for sale earlier. not a major...
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Mar 19, 2013
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as i said earlier, i firmly believe that this is going to hurt the economy, an economy that is struggling to really get a foothold and showing signs of life. absolutely the worst time to set one of these fiscal time bombs. >> i would like to react to that. and maybe i will. i just want to read this from the marines. saying this exercise, for example, was planned well in advance, had nothing to do with the budget cuts. this is from the marines. there were no corners cut, and if they couldn't afford to have all the safety precautions into place, they wouldn't do the exercise, okay? and this was reported by nbc's jim miklaszewski. this is insanity. to have marines having make that kind of statement. and this damages national security and mar morale, too. >> it does and not even overplaying the hand, just a gross indecency. back to jerryd's point on the sequester, where does the $44 billion in cash come from, larry? it comes from we the people, either through taxing, borrowing, printing of money, which is another form of taxation. it's not from heaven that it's being done -- >> i think budget
as i said earlier, i firmly believe that this is going to hurt the economy, an economy that is struggling to really get a foothold and showing signs of life. absolutely the worst time to set one of these fiscal time bombs. >> i would like to react to that. and maybe i will. i just want to read this from the marines. saying this exercise, for example, was planned well in advance, had nothing to do with the budget cuts. this is from the marines. there were no corners cut, and if they...
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Mar 21, 2013
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the europe is 25% of the global economy. it's china's largest customer, so when we talk about all these things and we talk about whether or not ali baba is going to do well, and you've got to be a bull on china, you have to question that thesis when you see something like france down 1.5% today. >> yeah. >> quickly. >> and i'll take small exception right here because over the past month the u.s. is up barely 3%. germany is up 4.5%. france is up 4.3%. that's as of right now, so over the past month they are outperforming. that's not telling me these guys are stopping and hitting the brakes hard. that tells me there's a little churn going on and that's it. >> all right. coming up on "the half," housing a bright spot in the recovery, no doubt, but is the hot run about to cool off? we're going to talk to a man who says it actually might happen when "halftime" comes back. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced
the europe is 25% of the global economy. it's china's largest customer, so when we talk about all these things and we talk about whether or not ali baba is going to do well, and you've got to be a bull on china, you have to question that thesis when you see something like france down 1.5% today. >> yeah. >> quickly. >> and i'll take small exception right here because over the past month the u.s. is up barely 3%. germany is up 4.5%. france is up 4.3%. that's as of right now, so...
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Mar 22, 2013
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the economy will grow 8.5% this year and maybe more on the next. while praising beijing, he also highlighted the financial sector and urbanization as key areas for reform. eunice yoon can all caught up with secretary general angel lahoria. their conversation quickly switched to cyprus. >> what's happening in cyprus is not indicative of what's happening in the world, not indicative of what's happening in the euro area. in cyprus, there was a peculiar situation. the government could not rescue the banking system. there should have been losses accrued to the critters of the banks who took risk webs but there was a formula where they tried to sort of keep everybody more or less unhappy, but they created a very bad package which, obviously, is proving untenable. they're not going to have to fix it. >> but how can they fix it? >> well, the eu has given the cypriots up until next monday to come up with an alternative because apparently this package of 6.5% for those below 100,000 and 9.9% to those above is 00,000 was something that was decided by the cypr
the economy will grow 8.5% this year and maybe more on the next. while praising beijing, he also highlighted the financial sector and urbanization as key areas for reform. eunice yoon can all caught up with secretary general angel lahoria. their conversation quickly switched to cyprus. >> what's happening in cyprus is not indicative of what's happening in the world, not indicative of what's happening in the euro area. in cyprus, there was a peculiar situation. the government could not...
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Mar 20, 2013
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but these two kind of the backbones of our economy. we have to keep our eyes and so many more of the transport stocks going forward. >> oracle now down about 7%. we'll get the updates from jon fortt later on in the show. ben bernanke, keeping the easy money and the rally for that matter going for now pushing the s&p 500 closer to an all-time high. let's get straight to the traders here. and dr. j. john najarian is also joining us here onset. we are points away from the s&p 500 hitting the all-time closing high. what's your guess on when that happens? >> if it weren't for oracle, it would have been early in the morning tomorrow. and even with oracle, i think the market still has enough gas, melissa to get past that. but to j.j.'s point and everyone on the desk, i agree there are some in the armor. not to push the market down, but to keep the fed in that tight box, that is exactly where the fed is. they're stuck, they can't get out of this now. if you were looking for an early exit, ain't happening, folks. not happening, not getting out
but these two kind of the backbones of our economy. we have to keep our eyes and so many more of the transport stocks going forward. >> oracle now down about 7%. we'll get the updates from jon fortt later on in the show. ben bernanke, keeping the easy money and the rally for that matter going for now pushing the s&p 500 closer to an all-time high. let's get straight to the traders here. and dr. j. john najarian is also joining us here onset. we are points away from the s&p 500...
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Mar 25, 2013
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economy may be growing at a snail's pace. but our next guest says growth in emerging markets will be strong enough to support the u.s. market for quite a bit longer. >> in fact, he's expecting 5.5% growth in those countries by the end of the year. sam stovall is back with us to make the case. that's quite an impressive growth rate. where's it going to come from, though? >> well, traveling around the west coast last week a lot of clients were asking me, how do we end up with rising earnings here in the u.s.? how do we end up with an expanding pe multiple if we're in a below average economic growth rate here? and i remind them that a lot of the companies, 50% of revenues come from overseas. most of the growth coming from the emerging markets. a lot of that is indigenous growth. a lot of that also is growth that they are -- from an exporting perspective. >> right. >> certainly i'm not saying that there is a trigger that is being unexamined at this point. but indicating to investors that 'en though emerging markets are down about
economy may be growing at a snail's pace. but our next guest says growth in emerging markets will be strong enough to support the u.s. market for quite a bit longer. >> in fact, he's expecting 5.5% growth in those countries by the end of the year. sam stovall is back with us to make the case. that's quite an impressive growth rate. where's it going to come from, though? >> well, traveling around the west coast last week a lot of clients were asking me, how do we end up with rising...
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Mar 19, 2013
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but yet the economy's improving. isn't that the perfect state for what you guys want to do in the market? >> it is. and i think the fed's going to give us the cover tomorrow, because they are going to acknowledge the improvement in the economic data. but i think they'll use the cover of a weather snap-back, the cover of maybe this is just temporary because we're soaring inventories are contributing. so i think they use that cover to remain overtly dubbish. >> are they getting better? >> probably not in those words. >> isn't that what you're going to interpret, though? >> they'll say continue buying. there's no risk if there's tightening anytime soon. the u.s. is the most attractive market, and that's the bottom line. europe, it's not china. >> here's where the rubber hits the road. >> who failed? >> you and baker. it's bernanke. rhymes with yankee. >> hold on. >> i know you're british accent. >> it's english, my man. >> you have less of an excuse. >> i'm from long island. >> you have an excuse a lot more than that, j
but yet the economy's improving. isn't that the perfect state for what you guys want to do in the market? >> it is. and i think the fed's going to give us the cover tomorrow, because they are going to acknowledge the improvement in the economic data. but i think they'll use the cover of a weather snap-back, the cover of maybe this is just temporary because we're soaring inventories are contributing. so i think they use that cover to remain overtly dubbish. >> are they getting...
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Mar 22, 2013
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this is the way our economy works. how do you tell us to run our business? they didn't want the millionaires and the billionaires taxed either so it's very much engrained in the society. >> and just proves once again that there's no such thing as a free lunch. great footage and great reporting. should investors here, for example, in the united states start to pay more attention to what's happening in cyprus? let's ask the chief investment strategist at raymond james. what do you think, jeff? you're a smart guy. >> the stock market is telling you the cyprus thing is going to be a non-event at least so far, that it's not going to have collateral damage into the rest of europe and that the earnings in this country are still going to come along pretty good, and we won't be pulled into a recession by what's going on in europe. >> what would you be doing then, just putting it aside as noise and just investing on other things, you know, like corporate profits and fundamentals in the economy? >> yeah. i think that's right, mandy. i think that the earnings are going
this is the way our economy works. how do you tell us to run our business? they didn't want the millionaires and the billionaires taxed either so it's very much engrained in the society. >> and just proves once again that there's no such thing as a free lunch. great footage and great reporting. should investors here, for example, in the united states start to pay more attention to what's happening in cyprus? let's ask the chief investment strategist at raymond james. what do you think,...
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Mar 26, 2013
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what is for sure, tyler, is the economy here will contract significantly. anywhere between 10% and 30%. they'll contract the financial sector, which is up until now, 50% of the economy. that's why all those people are protesting. they know what's coming. it's going to be painful. >> michelle caruso-cabrera, thank you very much. sue, down to you. >> ty, goldman sachs, one of the big stocks to watch today. let's look at the stock. it's up about 15% so far this year. the investment bank will have a new top ten shareholder soon, with the stock down just a fraction today of a percent at 14585. that new shareholder in a big ware, warren buffett. our mary thompson is here with more. >> buffett's future ranks among shareholders is borne from a crisis era deal that help to shore up goldman in 2008. where he ultimately lands in the ranks will depending on the share price. the two sides amending the original agreement, saving buffett to shem out money he would have -- and saving goldman from diluting its existing shareholders. here is how it works. in exchange for the
what is for sure, tyler, is the economy here will contract significantly. anywhere between 10% and 30%. they'll contract the financial sector, which is up until now, 50% of the economy. that's why all those people are protesting. they know what's coming. it's going to be painful. >> michelle caruso-cabrera, thank you very much. sue, down to you. >> ty, goldman sachs, one of the big stocks to watch today. let's look at the stock. it's up about 15% so far this year. the investment...
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to the program. european markets are start to go drift lower again. the ftse mib is down 2%. the dax in germany holding up better. the ftse 1100, too. fwank stocks mostly taking it on the chin, though. whether we're talking about spain where bbva is down 3.7%, banco santander down 3%. it looks as though declines in the banks are leading this next leg lower. here is a quick look at what's on this week's agenda as we turn our attention to the u.s. the national association of home builders releases its march index today. the pboc meeting starts tuesday with tons of data for thursday including manufacturing index for march, the philly fed survey and is leading economic indicators. with all that to run throu
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to the program. european markets are start to go drift lower again. the ftse mib is down 2%. the dax in germany holding up better....
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Mar 18, 2013
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we're in a situation where the economy is improving. earnings are going to do better than people pecked. remember shs we had a lot of negativity about what was going to happen this year. we're in a situation where if the economy doesn't do better than we get more qe. if it does improve, then the economy sim proves. earnings are better. everything goes up no matter what. >> bob, goldman is not the only one who has done it. other analyst, independents and others have done the same thing. >> key thing is gdp numbers were raised. retail sales numbers were better than expected. i think john's right. they'll do that with s&p numbers, although i haven't seen a lot. the only other one is isi. they had 1668 and now at 1690. they raised it. >> this is very healthy thing. we want the s&p to be going up based on stronger earnings. not just based on financial magic. that's what seems to be happening. great. >> mayor bloomberg is good for a topic here. he's decided he's going to ban cigarette advertising in the city establishments, keep all tobacco p
we're in a situation where the economy is improving. earnings are going to do better than people pecked. remember shs we had a lot of negativity about what was going to happen this year. we're in a situation where if the economy doesn't do better than we get more qe. if it does improve, then the economy sim proves. earnings are better. everything goes up no matter what. >> bob, goldman is not the only one who has done it. other analyst, independents and others have done the same thing....
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Mar 20, 2013
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these would be the economy to me. and then i look at the housing permits, and i look at the bills, and i look at lennar and i think, boy, the fed has a tough job, just a tough job because a lot of the economy is terrible. employment is not that great but mortgage rates are so low that people are building houses again. they have a tough job. i don't know how they're going to pull it off. >> there's so much data to sift through. it's hard to know what to latch onto. >> let's talk about cyprus. the interest rates were headed higher. if
these would be the economy to me. and then i look at the housing permits, and i look at the bills, and i look at lennar and i think, boy, the fed has a tough job, just a tough job because a lot of the economy is terrible. employment is not that great but mortgage rates are so low that people are building houses again. they have a tough job. i don't know how they're going to pull it off. >> there's so much data to sift through. it's hard to know what to latch onto. >> let's talk...
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Mar 22, 2013
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it's a smart way to go and if you want this economy to realize anything close to its full potential, it's the only way to go. that will do it for us tonight. thank you for joining me. have a great weekend. "fast money" begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. here's what "fast" is following on this friday night. deal or no deal. should investors care? why the cyprus crisis isn't a deal breaker for the rally. winners and losers. a look at the biggest pops and drops, plus how you can trade one of the week's biggest buzz kills. and coal whiners. are there finally some diamonds in the rough that you should be buying? but first, we want to turn to michelle carew sew cabrera for breaking news on the ground in cyprus. michelle? >> they are voting, finally, in the cyprus parliament tonight on some key legislation that would allow them to wind down the banks and hopefully meet the environments of the european central bank and the deadline set by monday. so, that way, the official system within this country can stay functioning th
it's a smart way to go and if you want this economy to realize anything close to its full potential, it's the only way to go. that will do it for us tonight. thank you for joining me. have a great weekend. "fast money" begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. here's what "fast" is following on this friday night. deal or no deal. should investors care? why the cyprus crisis isn't a deal breaker for the...
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Mar 21, 2013
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economy is improving. good news for stock prices. some worry that earnings season may disappoint and trigger a sell-off. but i would expect that to be met with the buy on the dip mentality. we've already seen some earnings cracks. fed skpex oracle each reporting disappointments this week. those stocks took big hits as a result. does that indicate a weakness coming for transport? more will be revealed in the next two weeks with the earnings avalanche soon to kick in. but as investors wait for answers, they're asking the question, where is the growth in the world today? emerging markets fbl under pressure after outperforming for more than a decade. as money comes out of u.s. stocks, it will find a home in places like mexico, where stocks are starting to show real strength as well. many think reforms there will be bullish for investors. and smart money may keep heading south for returns in brazil or colombia. that is not to say the buy in the dip for the u.s. markets won't continue. i believe it will. but with a 10% gain in stocks so fa
economy is improving. good news for stock prices. some worry that earnings season may disappoint and trigger a sell-off. but i would expect that to be met with the buy on the dip mentality. we've already seen some earnings cracks. fed skpex oracle each reporting disappointments this week. those stocks took big hits as a result. does that indicate a weakness coming for transport? more will be revealed in the next two weeks with the earnings avalanche soon to kick in. but as investors wait for...
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Mar 18, 2013
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economy. and, where hyes, they're in ver shape. they're generally optimistic about their revenue outlook. they tend to have a lot of cash on their balance sheets. they are genuinely concerned about the health care costs, taxes, and regulatory environment. that's the primary reason they don't hire more people. but their businesses are actually doing fine. >> john, i know i asked you this the last time. believe me. it's just that every time you leave then we hear more reports of wells fargo is trying to acquire cit. t.d. bank. has the price not been right? >> well, i really think you need to get wells fargo or t.d. on your show and ask them that question. >> all right. let me ask you about something that i know is near and dear to your heart. the new york stock exchange. what's your take, john, at the deal to acquire n -- he told me last week he's going to spin out some of the european exchanges. as you know he's got five european exchanges that he's going to try to ipo. >> even when i was at the new york stock exchange, the combinat
economy. and, where hyes, they're in ver shape. they're generally optimistic about their revenue outlook. they tend to have a lot of cash on their balance sheets. they are genuinely concerned about the health care costs, taxes, and regulatory environment. that's the primary reason they don't hire more people. but their businesses are actually doing fine. >> john, i know i asked you this the last time. believe me. it's just that every time you leave then we hear more reports of wells fargo...
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Mar 21, 2013
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we like cyclical areas, the economy, reliant steel, i mentioned, which we think is part of the u.s. manufacturing renaissance. we like china here, too, which has been through a big bear market, just starting to come back out of it. our numbers indicate china is going to be recovering the second half of the year and going on a bigger growth. air china is a great stock, we think. two or three times cash flow. 40% off its highs from just a couple years ago. >> and jack, to wrap it up, you guys both just recommended financials, we're watching what's going on in cyprus. do the weakness in european banks benefit our banks at all? >> i would say in general, it does. you know, it certainly puts the u.s. in a better light. it puts the u.s. banking system in a better light. you know, while we're certainly not out of equities, in fact, we're overweight high volatility asset classes, you know, i would prefer to at least at this stage, you know, make our money here at home. >> got it. relatively speaking. looking better. thank you very much, jack and steve. and by the way, we're sitting around s
we like cyclical areas, the economy, reliant steel, i mentioned, which we think is part of the u.s. manufacturing renaissance. we like china here, too, which has been through a big bear market, just starting to come back out of it. our numbers indicate china is going to be recovering the second half of the year and going on a bigger growth. air china is a great stock, we think. two or three times cash flow. 40% off its highs from just a couple years ago. >> and jack, to wrap it up, you...